Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
SEC’s Schapiro to Step Down in December
By Melanie WaddellAfter months of speculation that she would depart, Schapiro made it official Monday morning that she would depart the agency on Dec. 14; with a frontrunner emerging from Treasury Department.
November 20, 2012
Judge Says Greenberg Accusations Against Fed ‘Worthy of an Oliver Stone Movie’A federal district court judge in New York on Monday dismissed a lawsuit brought by former AIG chief Maurice Hank Greenberg against the Federal Reserve Board regarding the Fed's rescue of AIG in 2008.
November 20, 2012
The Case of the Aspirational AUM: SEC Says RIA Inflated AUM TenfoldA New York-based firm inflated its AUM to qualify for SEC registrationliterally moving decimals on a spreadsheetwhile a San Francisco-based firm dithered for 18 months in delivering mutual fund records to the SEC.
November 20, 2012
IRS Relaxes Withdrawal Rules for Sandy VictimsThe IRS announced on Nov. 16 that Americans affected by Hurricane Sandy would be able to take advantage of relaxed rules regarding loans and hardship withdrawals from 401(k) and employer-sponsored plans.
November 20, 2012
SEC Enforcement Roundup: High School Dropout ‘Advisor’ Busted for FraudThe SEC charged a man who was high school dropout and a phony investment advisor who spent his clients funds on drugs and gambling; and a group of former high school buddies were charged with engaging in insider trading.
November 20, 2012
Schwab Launches Compliance Solutions ProgramThe program combines capabilities of Schwab Designated Brokerage Services and Compliance 11 to help untangle and monitor regulatory and trading issues.
November 19, 2012
Fed wins AIG suitThe lawsuit alleged the New York Fed forced AIG to pay excessive amounts to satisfy its obligations under the CDS contracts.
November 16, 2012
J.P. Morgan, Credit Suisse to Pay Combined $400 Million Settlement for RMBS ViolationsThe SEC alleges that J.P. Morgan misstated information about the delinquency status of mortgage loans that provided collateral for an RMBS offering in which it was the underwriter, while Credit Suisse similarly failed to accurately disclose its practice of retaining cash for itself from the settlement of claims against mortgage...